Sri Lanka Consolidated Acts

Regional Rural Development Banks Act (No. 15 of 1985)

TABLE OF PROVISIONS

           Long Title

   1.	   Short title  
   2.	   Incorporation Order for establishment of a Regional Rural Development Bank  
   3.	   Principal place of business, branches and agencies of the Bank  
   4.	   Objects of the Bank  
   5.	   Transaction of business of the Bank  
   6.	   Powers of the Bank  
   7.	   Management  
   8.	   Constitution of the Board  
   9.	   Disqualifications for being appointed or exceed or continuing as a member  
   10.	   Chairman of the Board  
   11.	   Remuneration of Directors  
   12.	   Director to disclose interest in contract proposed to be made by the Bank  
   13.	   Meetings’ of the Board, quorum and regulation of procedure  
   14.	   Acts of the Board not to be invalid by reason of any vacancy  
   15.	   Delegation of powers and duties of the Board  
   16.	   Seal of the Bank  
   17.	   General body of the Bank  
   18.	   Training of banking and technical personnel  
   19.	   Capital of the Bank  
   20.	   Contributions to the capital of the Bank  
   21.	   Grant from the Central Bank  
   22.	   Temporary borrowings from the Central Bank  
   23.	   Borrowings from the Government  
   24.	   Borrowings from the foreign Governments &c  
   25.	   General Reserve Fund  
   26.	   Special Reserve Fund  
   27.	   Staff Development Fund  
   28.	   Special Resources Fund  
   29.	   Reserve requirements  
   30.	   Exemption of Bank from income tax  
   31.	   Security on which loans maybe granted by the Bank  
   32.	   Chairman to be the Chief Executive Officer Of the Bank  
   33.	   Staff of the Bank  
   34.	   Applicability of the State Mortgage and Investment Bank Law. No, 13 of 1975  
   35.	   Financial year of the Bank  
   36.	   Audit  
   37.	   Dissolution of the Bank  
   38.	   Application of the provisions of the National Savings Bank Act, No. 30 of 1971  
   39.	   Certain written laws not to apply to the Bank  
   40.	   Application of the provisions of the Companies Act, No. 17 of 1982  
   41.	   The Bank deemed to be an approved credit agency  
   42.	   Exempt from stamp duty  
   43.	   Opening of Accounts  
   44.	   Indemnity of directors &c  
   45.	   Declaration of secrecy  
   46.	   Board to give directions  
   47.	   Provision for conflict with other written law  
   48.	   Rules  
   49.	   Interpretation